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IPCA Inflation Due, Lula Continues Negotiations With Congress

BRAZIL
  • National statistics agency IBGE are scheduled to release the October inflation report at 1200GMT/0700ET. Mild deviations from analyst estimates are unlikely to impact markets as traders remain focused on fiscal concerns.
    • Oct. IBGE Inflation IPCA MoM, est. 0.49%, prior -0.29%
    • Oct. IBGE Inflation IPCA YoY, est. 6.36%, prior 7.17%
  • President-Elect Lula will spend another day in Brasilia, country’s capital, as he takes part in negotiations with Congress to approve a constitutional amendment to allow the extra spending.
    • Lula has signalled that the Workers’ Party will not put forward a candidate for Lower House Speaker, clearing the way for Arthur Lira to serve another period; a move that likely aims to garner Lira’s support for the bill.

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